Type of Program:
Grant & Loan
The Business Scale-up and Productivity (BSP) Stream aims to accelerate the growth of firms and assist with the adoption and adaptation of new, innovative technologies that support scale-up, productivity, development of and entry into new markets to help companies become competitive in both domestic and global markets.
Comments on Funding:
Funding is up to 50% of the eligible and supported project costs for a maximum of $500,000 per project. On an exceptional basis, FedNor may consider funding investments above that amount.
Total government funding (including federal, provincial and municipal) for a project cannot exceed 75% of supported eligible non-capital costs and 50% of supported eligible capital costs.
Applicants must have secured funding of at least 50% towards the balance of the project's eligible costs. A combination of committed funding from accredited investors (angels, venture capitalists), growth capital, strategic partners, commercial financing, other government departments, and working capital is acceptable.
When It Ends:
The applicant must:
Phase 1: Submit an Application for Financial Assistance providing key contact and project information;
Phase 2: Applications will undergo a due diligence process where they are assessed against a number of factors.
Other Things to Note:
Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe’s background and how he can help your business.